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Behrman Capital Names General Peter Pace as Operating Partner
General Pace Named Chairman of Pelican Products and Director of ILC Industries
NEW YORK AND SAN FRANCISCO, April 2, 2008 — Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that General Peter Pace, USMC (Ret.), the former Chairman of the Joint Chiefs of Staff, has joined the firm as an Operating Partner. In conjunction with being named an Operating Partner, General Pace has been named Chairman of the Board of Behrman portfolio company Pelican Products, Inc., a Torrance, CA based global leader in the design and manufacture of advanced lighting systems and virtually indestructible cases for protecting valuable equipment. He has also been named a Director of portfolio company ILC Industries Inc., a defense electronics and engineered softgoods provider based in Bohemia, NY.
As an Operating Partner at Behrman Capital, General Pace will work with existing Behrman Capital portfolio companies to build value as well as source and evaluate new acquisition platforms for the firm’s continued growth.
“General Peter Pace brings extraordinary experience and expertise to his new role as a Behrman Capital Operating Partner, and we are delighted to welcome him to the firm,” said Grant G. Behrman, Managing Partner of Behrman Capital. “General Pace is a rare individual; over the past forty years he has held leadership positions at virtually every level of the Marine Corps, culminating in his tenure as Chairman of the Joint Chiefs of Staff. He has confronted challenges in nearly every region of the world and in a broad range of situations, balancing this experience with a lifelong passion for knowledge,” said Behrman.
“General Pace has pursued a remarkable life dedicated to the service of his country through the purposeful exercise of leadership, integrity, and courage; his knowledge and experience are unmatched. We are truly privileged to have him join the Behrman team,” concluded Mr. Behrman.
“I am delighted to be joining Behrman and look forward to working with the team on current investments, including Pelican Products and ILC, as well as new opportunities,” said General Pace. “Behrman Capital is well known for its private equity expertise. Equally important is the firm’s commitment to achieving success through disciplined analysis and hard work, and in a manner consistent with its own principles and high standards of excellence.”
General Pace, 62, served as the 16th Chairman of the Joint Chiefs of Staff, the most senior position in the United States Armed Forces, from September 2005 to October 2007. In his capacity as Chairman, he served as the principal military advisor to the President, the Secretary of Defense, the National Security Council, and the Homeland Security Council. General Pace is the first Marine to have served as either Chairman or Vice Chairman of the Joint Chiefs of Staff. During his tenure as Chairman, General Pace was responsible for providing military advice on U.S. operations in Iraq and Afghanistan.
In October 2001, General Pace was appointed Vice Chairman of the Joint Chiefs of Staff. As Vice Chairman, General Pace served as the Chairman of the Joint Requirements Oversight Council, Vice Chairman of the Defense Acquisition Board, and as a member of the National Security Council Deputies Committee and the Nuclear Weapons Council. In addition, he acted for the Chairman in all aspects of the Planning, Programming and Budgeting System including participation in the Defense Resources Board.
On April 22, 2005, President George W. Bush nominated General Pace to be Chairman of the Joint Chiefs of Staff.
General Pace is a graduate of the U.S. Naval Academy, and holds an MBA from George Washington University. He is also a graduate of the Infantry Officers’ Advanced Course at Fort Benning, GA; the Marine Corps Command and Staff College, in Quantico, VA; and the National War College, at Ft. McNair, Washington, DC. He holds many personal decorations from both the U.S. and other nations, including the Defense Distinguished Service Medal, Legion of Merit, and numerous Navy and Marine Corps Commendations. He has also received the Keeper of the Flame Award by the Center for Security Policy, the Patriot Award from the Congressional Medal of Honor Society, and Georgetown University’s President’s Medal.
General Pace was born in Brooklyn, NY and was raised in Teaneck, NJ, graduating from Teaneck High School in 1963. He received his commission in the Marines in June 1967.
About Behrman Capital:
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are primarily focused in five industries: defense, specialty manufacturing, health care, outsourcing and information technology. The firm currently has a combined capital base in excess of $2.0 billion. For more information, please visit www.behrmancap.com.
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For Behrman Capital:
David Lilly / Michael Freitag
Kekst and Company